Vishay Intertechnology buys back $26.2 million exchangeable floaters

By Marisa Wong

Morgantown, W.Va., March 31 – Vishay Intertechnology, Inc. repurchased $26.2 million of its floating-rate exchangeable notes due 2102 through a privately negotiated transaction, according to an 8-K filing with the Securities and Exchange Commission.

The purchase price was about $22.6 million.

Vishay will recognize a gain on early extinguishment of debt of roughly $3.6 million in its fiscal quarter ending April 2, the filing said.

The notes repurchased on Thursday had been exchangeable for 1,702,813 shares of Vishay common stock.

Following the transaction, the outstanding principal amount of exchangeable notes is $12.4 million.

Vishay is a Malvern, Pa.-based semiconductor manufacturer.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.